Comar, Inc. announces the acquisition of Universal Container Corporation
Buena, New Jersey – Comar, Inc. (Comar) announced that on Friday, April 16th 2010 it has finalized a transaction acquiring 100% of Universal Container Corporation’s (Unicon) assets from its current shareholders. Based in Cayey, Puerto Rico, Unicon is a leading manufacturer of high quality injection molded, injection blow molded, and extrusion blow molded parts and containers. Comar, based in Buena, New Jersey, is a manufacturer of proprietary pharmaceutical packaging with a leadership position in the Liquid Medication Delivery Device Market. The transaction closed on April 16, 2010 and the terms were not disclosed.
Unicon’s primary end market is pharmaceutical packaging serving a Class A list of customers including pharmaceutical companies, contract packagers, and distributors. Included in the transaction are the leased real estate, manufacturing equipment, plant operations, management and employees. The operations, product line, and customer base are a strong fit with Comar and manufacturing at Unicon’s facility will continue and will be expanded. The acquisition is the next step in Comar’s strategic plan, which began with the divestiture of its glass vial product line, and focuses on organic growth and acquisitions within plastic pharmaceutical and medical packaging.
According to Mike Ruggieri, President of Comar, “Unicon’s products, production capabilities, and facility will complement and enhance Comar’s existing product lines and position the combined entity for future growth. Unicon is a perfect fit for our business and we are excited to welcome Unicon’s staff and customers to the Comar family. This acquisition gives our business a high quality, redundant facility for production while also expanding our capacity to keep up with our rapid organic growth. We believe Unicon’s and Comar’s customer base will benefit from the choices offered by our combined, expanded product line.”
P&M Corporate Finance, LLC served as exclusive financial advisor to Comar in this transaction and assisted in the development and execution of Comar’s acquisition growth strategy.
Comar is a 60 year old, privately owned Pharmaceutical Plastic Packaging Manufacturer. Comar currently services the Pharmaceutical, Biotech, Diagnostic, Ophthalmic, Healthcare, Personal Care, and Retail Pharmacy markets. Its product line includes multiple patents for its line of oral dispensers, dosage cups, dropper assemblies, closures, and other primary packaging products manufactured in its ISO 9001:2008 and 13845 registered facility. Comar’s on-going strategic plan for growth in pharmaceutical packaging includes the potential for additional acquisitions that expand its product offerings, manufacturing technology, customer relationships, or technical expertise.